Karachi: The Pakistan Stock Exchange (PSX) lost 6,500 points on Wednesday amid an escalation of military confrontation between India and Pakistan in the wake of the Pahalgam terror attack.
The market saw investors in panic mode in intra-day trade as the benchmark KSE-100 index declined by 6,560.82 points, or 5.78 per cent, to stand at 107,007.68 from the last close of 113,568.50 when the market opened this morning.
Due to the massive dip, the market was immediately suspended briefly. This is the second-largest intraday tumble, second to the 8,700 points loss that happened in the US last month after President Donald Trump’s trade tariff announcements.
Fatima Bucha of AKD Securities said the market showed signs of recovery after 11 am, reaching 112,457.37 points, before declining to 111,171.92 points at 12 pm.
“This was expected in the market for days because of the fears about military strikes by India,” she said.
“The market opened under pressure this morning and some selling has been observed, though volumes remain low as investors assess the evolving situation,” she said.